Tech Talk for Tuesday January 31st 2023

U.S. equity index futures were lower this morning. S&P 500 futures were down 6 points in pre-opening trade.

The Canadian Dollar added US0.10 to 74.47 cents following release of Canada's November GDP report at 8:30 AM EST. Consensus was an increase of 0.1% versus a gain of 0.1% in October. Actual was an increase of 0.1%. On a year-over-year basis consensus was an increase of 2.7%. Actual was an increase of 2.8%.

NXP Semiconductor dropped $7.48 to 171.50 after the company lowered guidance below consensus.

Sanmina added $3.71 to $59.25 after reporting higher than consensus quarterly results.

Whirlpool advanced $4.68 to $158.22 after reporting higher than consensus fourth quarter results.

General Motors gained $1.66 to $37.95 after reporting higher than consensus fourth quarter earnings.

EquityClock's Daily Comment

Headline reads "If a risk-aversion move is to materialize, this is a logical point for it to happen as the ratio of the Staples (XLP) over Discretionary (XLY) ETF tests long-term rising trendline support".

http://www.equityclock.com/2023/01/30/stock-market-outlook-for-january-31-2023/

Technical Notes

CGI Group $GIB.A.TO a TSX 60 stock moved below Cdn$112.68 extending an intermediate downtrend.

Philip Morris International $PM an S&P 100 stock moved above $104.43 extending an intermediate uptrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for January 30th 2023

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for January 30th 2023

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for January 30th 2023

Green: Increase from previous day

Red: Decrease from previous day

Link offered by a valued providers

Mike Wilson from Morgan Stanley warns the stock market's January rally could end this week.

https://www.marketwatch.com/story/morgan-stanleys-mike-wilson-warns-the-stock-markets-january-rally-could-end-this-week-11675107367?mod=home-page

S&P 500 Momentum Barometers

The intermediate term Barometer dropped 5.40 to 67.00. It remains Overbought, but showing early signs of rolling over.

The long term Barometer slipped 3.20 to 65.40. It remains Overbought.

TSX Momentum Barometers

The intermediate term Barometer dropped 3.39 to 75.00. It remains Overbought, but showing early signs of rolling over.

The long term Barometer slipped 1.69 to 70.78.

Disclaimer: Seasonality ratings and technical ratings offered in this report and at

www.equityclock.com are for information only. They should not be considered as advice to purchase or to sell mentioned securities. Data offered in this report is believed to be accurate, but is not guaranteed